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New concept hotel to open in one of Florida’s Premier Golf Communities in 2009.

Miami - May 21, 2008: aloha! Starwood
Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) and its much-anticipated new
lifestyle brand, aloftsmhotels, announces a groundbreaking
celebration today at 11 a.m. for the new aloft hotel in Aventura,
Florida. Developed and owned by Cabi Aventura Hotel, LLP and Aventura
Development, aloft Aventura Hotel is scheduled to open in the fall of
2009. The 215-room hotel will offer a variety of intuitive technologies
and atmospheric public spaces, including a 5,000 square foot meeting
space.

aloft Aventura Hotel will be conveniently located between Miami and Fort
Lauderdale in what is known as a golf haven due to its vast selection of
premium courses. Just minutes from world-famous South Beach, the
community offers balmy weather, beautiful parks and easy access to Miami
Seaquarium, Coral Gables, Hollywood Greyhound Track, and the Aventura Mall – a
2.4 million square foot retail center with fine dining, upscale shopping and
entertainment. The new-construction hotel will be located at 2777 NE
185th Street, several minutes from both the Miami International
Airport and Fort Lauderdale/Hollywood International Airport.

“The dynamism and sophistication of the aloft brand will complement the
energy of Aventura, one of Florida’s most appealing communities,” said Brian
McGuinness, Brand Leader, aloft hotels worldwide. “Youthful-minded
travelers will appreciate the aloft brand’s emphasis on creativity,
culture and style.”

“Bringing aloft hotels to Aventura fits with the growing community’s
active and chic lifestyle,” said Misha Mladenovic, VP of Development for Cabi
Developers. “aloft Aventura Hotel will provide a getaway from the
area’s fast-paced environment, while staying true to the glamour and essence of
South Florida.”

As a Vision of W Hotels, aloft hotels are shaking up the lodging
industry with urban-influenced design, accessible technology, style and a
social atmosphere. aloft hotels offer a total sensory experience, with
guest rooms featuring loft-like nine-foot ceilings and oversized windows to
create a bright, airy environment. The centerpiece of each aloft room is
the plush platform bed, and large stylish bathrooms complement the guest
experience with oversized walk-in showers and amenities created by
bliss® spa. Each aloft room is also a combination high-tech
office and entertainment center, featuring wireless internet access and a
one-stop connectivity solution for multiple electronic gadgetry such as PDAs,
cell phones, mp3 players and laptops - all linked to a large flat panel LCD
television for optimal sound and viewing.

Designed in conjunction with world renowned David Rockwell and the Rockwell
Group, aloft hotels stay true to the W Hotel brand’s heritage, offering
atmosphericpublicspaces designed to draw guests from their rooms to socialize
and make friends. Guests can read the paper, work on their laptops via
hotel-wide wireless internet access, play a game of pool or grab a drink with
friends at the re:mix communal lobby area and bar w xyz. The
re:charge fitness center and the indoor or outdoor pool, give travelers
options to de-stress and re-energize; while the re:fuelby aloft one-stop
food and beverage area, offers sweet, savory and healthy food, snacks and
beverages to grab & go, 24-hours a day.

About aloft
An instant hit in the development community, the first aloft hotels are
scheduled to open in summer 2008. The aloft brand has already
announced more than 60 development projects, in more than 10 countries.
In 2009, the aloft brand will continue its momentum with the opening of
more than 50 hotels broadening the international footprint and domestically
positioning aloft hotels in markets previously underpenetrated.

The first aloft hotels are scheduled to open in Chicago O’Hare, IL,
Minneapolis, MN, and Philadelphia Airport, PA, Lexington, MA, Ontario-Rancho
Cucamonga, CA, Rogers-Bentonville, AR as well as Montreal Airport and Beijing,
China. Scheduled to open in 2009 are aloft Brooklyn, NY, Denver
International Airport, CO, Dallas, TX, Atlanta, GA, Las Vegas, NV and Toronto,
Canada.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with approximately 900 properties in more than
100 countries and 155,000 employees at its owned and managed properties.
Starwood Hotels is a fully integrated owner, operator and franchisor of hotels,
resorts and residences with the following internationally renowned brands: St.
Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four
Points® by Sheraton, and the recently launched AloftSM, and Element
SM. Starwood Hotels also owns Starwood Vacation Ownership,
Inc., one of the premier developers and operators of high quality vacation
interval ownership resorts. For more information, please visit
www.starwoodhotels.com.

About Cabi Developers
Cabi Developers is the U.S. subsidiary of GICSA, Mexico’s foremost development
company. Since entering the U.S. market in 2000, the company has
successfully developed and operated in Florida, California and Texas. In
South Florida, Cabi Developers has completed The Parc at Turnberry Isle, a
111-unit residential development and Country Club Center in Aventura, a Class-A
office building.

Current Projects include:

Capital at Brickell, a development of more than $500 million in the
Brickell area, which is Miami’s financial district. The project, with
expected completion in 2011, will consist of residences, offices and
retail.

Everglades on the Bay, a mixed-use development located in the heart of
Downtown Miami with more than 800 condominium units and 58,000 square feet on
ground-floor retail, which is set for completion in Summer 2008.

Naya Miami Beach, a 7-story residential building comprised of seven luxury
town homes, 20 condominium units, and 15 penthouses. The project is
located in Miami Beach with an anticipated completion date of September
2009.

Bella Vista Hotel, a 12-story, 4-star hotel with 351 units located in San
Antonio, Texas. Development is scheduled to begin in October 2008 and the
opening is anticipated for July 2010.

The Residences at Bella Vista, the second phase of Bella Vista Hotel in San
Antonio, Texas will include a 15-story condominium complex with 250 units.